News & Press Releases

In the News | September 21, 2017

Why is the GOP trying to hide the funding problems small businesses face?

September 2017 — Opportunity Fund CEO Luz Urrutia calls on the GOP to support the 1071 data reporting requirement, which requires the Consumer Financial Protection Bureau (CFPB) to collect statistics on the state of small business lending, including information about access to credit for women and minority-owned businesses. This data brings light to discriminatory practices and gaps in small business lending and is cruical for ensuring equal opportunity for small business owners.

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In the News | September 6, 2017

‘Fintech’ Loans: A Sometimes Costly Lifeline for Small Business

September 2017 — KQED News highlights Opportunity Fund's work in helping small businesses owners refinance expensive online loans after falling into unexpected debt. The article profiles Opportunity Fund client, Che Al-Barri, who fell into debt through an online loan and was able to refinance his cleaning business with Opportunity Fund's help.

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In the News | September 4, 2017

Can Fintech Advance Civil Rights?

September 2017 — The parternship between Opportunity Fund and Lending Club is providing greater access to capital for small and minority-owned businesses, which are often unable to access credit from traditional lenders. Not only is this parternship expanding access to capital by reaching a broader market, but both organizations are also utilizing fintech lending responsibily.

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In the News | June 19, 2017

Small businesses are doing their part to create jobs. Here’s how the Legislature can help.

June 2017 — When the federal State Small Business Credit Initiative expired in May 2017, so did the funding for state programs that support small business lending through loan loss reserves. Opportunity Fund was able to cover 8,754 loans through the end of 2017 and is eager to continue supporting underserved small business owners to the same degree. Now, Opportunity Fund has thrown its support behind SB 551, a state bill that seeks several reforms to protect California’s program.

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In the News | December 1, 2016

Controversial cash advances come at a high cost

December 2016 — Short-term financing known as merchant cash advances are getting some small businesses into hot water financially. CEO Eric Weaver is quoted on the dangers of merchant cash advances, and Opportunity Fund is mentioned as a CDFI lender, a reliable alternative.

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In the News | October 13, 2016

It’s the ‘Wild West Out There’: Merchant Cash Advances

October 2016 — The merchant cash advance industry runs largely unregulated, causing borrowers to risk their livelihood and business to keep up with payments. Opportunity Fund's research is cited, and Gwendy Brown, VP of Research & Policy, is quoted, highlighting the unfavorable outcomes of merchant cash advances.

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